It is well known that cold working or swaging a cast magnetic material, for example, results in the development of a magnetic anisotropy therein and an improvement in its magnetic properties. It has been recognized that an alignment of the axis of easy magnetization then takes place in the working direction and leads to an increase in the "squareness" of the magnetic system. The working effect of swaging is, however, basically static and the extent of the improvement in magnetic properties thereby is relatively small. Furthermore, the conventional process entails, for achieving the desired end, the application of an elevated pressure which amounts generally to the order of tons/cm.sup.2 and consequently makes essential a large-size facility including a costly high-pressure generator and accessory equipment.
It is also known that certain magnetic materials such as spinodal-decomposition type iron-chromium or iron-chromium-cobalt base magnetic alloys, after having been solution-treated, require an aging treatment which is conducted continuously or in a multiplicity of steps, necessitating a prolonged period of time, usually several to ten hours. The treatment has thus left much to be desired in efficiency and also requires strict temperature control which it is difficult to maintain and hence again requires relatively complex equipment and facilities.